[PRESS RELEASE] – LONG BEACH, Calif., and TORONTO, June 17, 2026 – Glass House Brands Inc. announced that it has applied to list its subordinate voting shares on the New York Stock Exchange (NYSE).
In support of its listing application, the company and its indirect wholly owned subsidiary, GHB Usub LLC, entered into several agreements to facilitate the deconsolidation of its former indirect wholly owned subsidiary, Glass House Retail LLC (GHR), from the company, segregating the company's dual-use cannabis business from its medical cannabis business (the “deconsolidation transaction”).
As a result of the deconsolidation transaction, the company’s subsidiary holds non-voting and non-participating units (the "non-voting units") in the capital of GHR, which now holds the company's former dual-use cannabis business, other than businesses the transfer of which is subject to regulatory approval, which businesses will, automatically and without any action on the part of the company or any other party, transfer to GHR upon the receipt of regulatory approval.
The voting units of GHR are held by a third-party investor, and the non-voting units can only be converted into voting units of GHR following the date that the NYSE permits the listing of companies that consolidate the financial statements of companies that cultivate, distribute or process marijuana (as defined in 21 U.S.C 802) for nonmedical uses in the United States.
Further information about the deconsolidation transaction may be found on SEDAR+ (www.sedarplus.ca) under the company's issuer profile.
